Singapore's Frasers Property full-year revenue rises 6.8%

Frasers Property

Yesterday 13:03

Overview
Singapore property developer's full-year revenue rose 6.8% to S$3.64 bln
Full-year net profit declined 3.4% to S$563 mln
Earnings per share for the year rose to 7.4 Singapore cents from 5.9 cents

Outlook
Company did not provide specific financial guidance or outlook commentary in its press release

Result Drivers
PROPERTY SALES AND RETAIL – Co said revenue and PBIT growth reflected Northpoint City South Wing, Australian retail project sales, and land sales in Australia and Thailand
JOINT-VENTURE FAIR-VALUE GAINS – Higher fair-value gains from a Singapore retail joint venture and Thai industrial and logistics associate lifted share of results

Company press release: ID:nSN9MF7rK

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
FY Revenue
 
S$3.64 bln
 
FY Net Income Attributable
 
S$300.13 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the real estate rental, development & operations peer group is "hold."
Wall Street's median 12-month price target for Frasers Property Ltd is S$1.46, about 60.8% above its November 13 closing price of S$0.91
The stock recently traded at 22 times the next 12-month earnings vs. a P/E of 27 three months ago

Reuters Recommended Reads
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Nov 13 - Property developer Rich Capital's half-year revenue rises on new construction project

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)